8 Ways to Save and Beyond is the companion blog to the book 8 (Really Creative) Ways to Save by Kristin King. If you're looking for fresh, exciting ways to save money every day, this blog is for you!

Monday, February 6, 2017

8 Weeks of Saving More! Personal Finance Your Way (Week 6)

Welcome to Week 6 of our savings challenge. I really and truly hope someone is getting something out of this series. It's been pretty quiet in the comments section, which makes me 😔 because I am very passionate about the subject of saving money, but I know I have grown from this series. If it's helping at least one other person, I'm glad for that.

It's getting close to the end of the challenge and I want to talk today about personal finance. More specifically--yours!

How do I know anything about your personal finance? I don't. (No worries, I haven't been peeking at anyone's bank statements other than my own!) I do, however, want to encourage you to become a detective in your personal finance. This will help you uncover the answers to 2 important questions:

When it comes to your money

What's working?

What isn't working?

I've found the easiest way to answer these questions is to make a list. For example, here's mine ⇣

After you've come up with your own list (and decorated it with fun stickers, of course), I want you to applaud yourself for what's working in your personal finance and do more of that.

Then, choose one statement from the "what's not working" category and come up with an alternate solution. The goal for the alternate solution is that eventually you can add that new solution to the "what's working" category. But only work on one negative at a time. It's hard to keep up if you try to change everything at once. And with all of the things that are working, as you do more of that and slowly add to the list, your momentum is going to build. It all pushes you in the right direction.

Week 6, Task 1:Make your list of what's working and what isn't working with your personal finance. Stickers really are optional, but I promise they will cheer you up each time you see them. Week 6, Task 2: Choose one statement from the "what's not working" category and come up with an alternative solution. For instance, if you're using a debit or credit card too much during the week, your alternative solution could be to allot yourself a certain amount of cash at the beginning of the week. Visit the ATM on Monday and use that cash as you need, knowing that you don't get more until the following Monday. Be sure to start practicing your alternate solution ASAP.

Week 6, Task 3: I would love to hear one thing that is working with your personal finance. If you're game, leave me a comment below!

The truth is, there's no right way to do personal finance. There are many general things that seem to work best (ie. steering clear of debt, having an emergency fund, saving by auto-deposit), but when it comes to the details, you have to do what's best for you and what works for your family.